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Add Solar Industries India, target price Rs 1458: ICICI Securities

ICICI Securities has add call on India with a target price of Rs 1458.

The current market price of Solar Industries India Ltd. is Rs 1390.5 Time period given by analyst is 12 months when Solar Industries India Ltd. price can reach defined target.

Solar Industries India Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 12562.28 Crore) operating in Chemicals sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 659.08 Crore, up 11.88 % from last quarter Total Income of Rs 589.12 Crore and up 15.52 % from last year same quarter Total Income of Rs 570.51 Crore. Company reported net profit after tax of Rs 81.43 Crore in latest quarter.

Investment Rationale
The brokerage values SOIL on a consolidated P/E of 30x on FY23E (from 26x FY23E earlier). It upgrades to ADD with a revised target price of Rs 1458/share.

Promoter/FII Holdings
Promoters held 73.2 per cent stake in the company , FIIs held 5.4 per cent, DIIs 16.8 per cent and public and others 4.6 per cent.

(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)

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